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Thursday, December 1, 2016

In Memory of Muamar Gaddafi's Prophecies:
Muammar Mohammed Abu Minyar Gaddafi 1942 – 20 October 2011), commonly known as Colonel Gaddafi, was a Libyan revolutionary, politician, and political theorist. He governed Libya as Revolutionary Chairman of the Libyan Arab Republic from 1969 to 1977 and then as the "Brotherly Leader" of the Great Socialist People's Libyan Arab Jamahiriya from 1977 to 2011. He was initially ideologically committed to Arab nationalism and Arab socialism, but he came to rule according to his own Third International Theory before embracing Pan-Africanism.Muamar Gaddafi's in his Prophecies said "I will not go into exile to any foreign country. I was born here in Libya, and I will die here. This country was a dessert, and I turned it into a forest, where everything can grow.No one Love this land more more than its citizens. If Europe and America tells you that they love you, be careful. They love the wealth of your land. The oil and not the people. They are helping you to fight against me but, it will be more wise for you to fight against them because they are fighting against your future and progress.My message to you the people of Libya is, they are helping you to kill me but you will pay the price because you will suffer. And my message to you America and Europe is, you will kill me, but be ready to fight a never ending TERRORISM.Before you realise your ignorance, terrorists will be hitting you at your doorstep."GADDAFI once told the Nigerian and British governments to divide Nigeria into two, so that the Hausa/Fulani (Moslems), Yoruba (Christians) and Biafrans/Igbo, can live as neighbouring countries.It's good we look at these 16 REAL REASONS WHY COL. GADDAFI WAS KILLED:1. There is no electricity bill in Libya, electricity is free for all its citizens.2. There is no interest on loans, banks in Libya are state-owned and loans given to all its citizens are at a 0% interest by law.3. Home is considered a human right in Libya. Gaddafi vowed that his parents would not get a house until everyone in Libya had ahome.4. All newlyweds in Libya receive $60,000 Dinars (US$50,000) from the government to buy their first apartment.5. Education and medical treatments are free in Libya. Before Gaddafi, only 25% of Libyans were literates. Today, the figure stands at 83%.6. Libyans taking up farming as a career, they received farm land, a farming house, equipment, seeds and livestock to kick- start their farms – all for free.7. If Libyans cannot find the education or medical facilities they needed in Libya, the government funded them to go abroad for it.8. In Gaddafi's Libya, if a Libyan buys a car, the government subsidized 50% of the price.9. The price of petrol in Libya is $0. 14 per liter.10. Libya has no external debt and its reserves amount to $150 billion – now frozen globally.11. If a Libyan is unable to get employment after graduation, the state would pay the average salary of the profession as if he or she is employed until employment is found.12. A portion of Libyan oil sale is credited directly to the bank accounts of all Libyan citizens.13. A mother who gave birth to a child under Gaddafi, received US $5,000 as child benefit upfront.14. 40 loaves of bread in Libya costs $ 0.1515. 25% of Libyans have a university degree16. Gaddafi carried out the world’s largest irrigation project, known as the Great Man- Made River Project, to make water readily available throughout the desert country.If this is called "Dictatorship", I wonder what type of Leadership Democrats have!!Share this to remember Gaddafi

Tuesday, October 25, 2016

BIRTHJeremiah Oyeniyi Obafemi Awolowo was born on March 6, 1909, to Chief David Sopolu Awolowo and his wife Mary Efunyela Awolowo in Ikenne, Remo, in what is now Ogun State of Nigeria..

EDUCATION
He had his primary school education at St. Saviour's School, Ikenne, and at Imo Wesleyan School, Abeokuta. His education at this early stage was interrupted for several years by the sudden death of his father in April 1920, an event that left him without financial support and compelled him to fetch firewood for sale, and do similar jobs, to support his schooling.

He had higher education at Wesley College, Ibadan (a teachers' college) in 1927, and much later at the University of London as an External Student. He was awarded the degree of Bachelor of Commerce (Hons.) and the Bachelor of Laws by the University of London. He was called to the Bar by the Honourable Society of the Inner Temple on November 19, 1946.

MARRIAGE
On 26th December, 1937 Obafemi Awolowo got married to Miss Hannah Idowu Dideolu Adelana. They remained each other's best friend to the end; together they fought for the cause of justice and for the release of their fellow man’s mind from ignorance and the freedom on his body from disease. They had 5 children: Olusegun (1939-1963), Omotola, Oluwole, Ayodele and Tokunbo.

After a brief spell as school teacher, stenographer, and Daily Timesreporter-in­ training, Obafemi Awolowo set himself up in Ibadan as a produce buyer and a transporter. It was in Ibadan that his political life began to unfold: he served there as secretary of the Nigerian Youth Movement before he went abroad to study Law in Great Britain.

Back home from Britain, Awolowo formed the cultural group known as “Egbe Omo Oduduwa” in 1949 and a political party, the Action Group, (AG), in 1951 also known as Egbe Afenifere in Western part of Nigeria as part of the Social Programme for the emancipation of Yoruba race. His party won the first elections ever conducted in Western Nigeria. As a result of that victory, the AG formed the first elected government in the Western Region and Obafemi Awolowo, now a Chief, became the Leader of Government Business and Minister for Local Government in 1952. In 1954, Awo (as he had come to be fondly known within his party) became the first Premier of the Western Region. His party won the elections again in May 1956 and Awo retained his position as Premier. He voluntarily gave up that position when, on December 12, 1959, he was elected into the House of Representatives where he became the Leader of Opposition in Nigeria's central legislature.

He stood up stoutly against mediocrity and drift in government, and began to define alternative channels along which Nigeria's government should go. His own concept of a Nigerian nation was probably too advanced for his opponents, who began to see the Awolowo-led opposition as a major threat. Following a trial for treasonable felony, he was jailed for 10 years in September 1963.

By July 1966, Nigeria's problems had become so interactable that disintegration of the country seemed inevitable. A new Federal Military Government promptly opened the gates of Calabar Prison, brought Awolowo out and appointed him as a minister to take charge of the country's treasury and to provide political support as Vice Chairman in the Federal administration. In those two roles, he was one of the major architects of Nigeria's victory over s~cession in the 3D-month Civil War. When the war ended, Awo waited just long enough to give Nigeria a National Development Plan; as soon as the Plan was completed, he resigned from the government, although, to his last day, he remained grateful to the man who gave him an opportunity to serve his country.

When Nigeria's Armed Forces lifted the ban on civilian participation in politics in September 1978, Nigerians who believed in Awo’s political ideas and principles joined him in forming the Unity Party of Nigeria which presented Nigeria with a dynamic programme of socio economic change along democratic socialist lines. Awo led the party until it was banned, along with Nigeria's other political parties, during the military take-over at the end of 1983.

Chief Awolowo was a great political thinker who committed many of his thoughts to writing. From 1946, he had started a long career in political writing, which flourished whether he was in freedom or in detention, whether he was in power or out of it. It continued to flourish till the very end of his life.

ACHIEVEMENTS:
Chief Awolowo’s greatest achievements resulted from the foresight, clear sense of direction and sheer competence that he brought into government.

At the beginning of his career in government, Chief Awolowo quickly reformed the Local Government system of the Western Region and took revolutionary steps to Nigerianise and improve the Western Nigeria Civil Service. An extremely good judge of men’s qualities, he had also put together a very efficient team of ministers. Having taken those steps, he was set to achieve within 5 years a string of "Firsts" in the history of Africa. Between 1954 and 1959, his government­

evolved, and was served by, the most efficient Civil Service in Black Africa;introduced and successfully implemented the first Free Primary Education programme in Africa;introduced and successfully managed the first Free Medical Service programme in Nigeria - for children up to the age of 18;established the first Television Station in Africa;built the Liberty Stadium, the first such modem sports facility in Nigeria;introduced and successfully implemented the first minimum wage policy in Nigeria and actually paid to Western Nigerians from October 1954 a minimum wage that was doublethe amount paid to workers of the same level in some other parts of Nigeria;set up Nigeria’s first industrial complex at Ikeja;set up Nigeria's first commercial Housing Estates at Ikeja and Bodija, Ibadan.

Besides these, Chief Awolowo’s government had­ laid the foundation for development in commerce and industry by creating an efficient Western Nigeria Development Corporation, the ancestor of the present-day O'dua Investment Company;taken successful bold steps to revolutionise the production and marketing of cocoa by farmers in Western Nigeria; and .created the infrastructure for rural development by promoting 900 cooperative societies in about 3 years and by providing within 5 years almost 10 times as many miles of road as he inherited from the British administration.

There is a not-so-visible achievement arising from all these. By making election promises and fulfilling them within a few years, Awo had led his region to evolve a culture that demands and evaluates a socio economic programme from those who seek to govern them.

In the Federal government, Awo managed the finances of Nigeria so shrewdly and so competently that the Federal Government successfully waged an expensive 30-month war against secession without resorting to foreign loans and without compromising its sovereignty.

HONOURS:
In recognition of his intellectual contributions, Awolowo was honoured by the following institutions of learning:
University of Nigeria, Nsukka: LL.D. (1962)
University of Ife, Ile-Ife: D.Sc. (1967)
University of Lagos: D.Litt. (1968)
University of Ibadan: LL.D. (1972)
Ahmadu Bello University, Zaria: LL.D. (1975)
University of Cape Coast, Ghana: LL.D. (1976)

He was Chancellor of the University of Ife (1967 -1975) and Ahmadu Bello University, Zaria (1975-1978).
In recognition of his professional contributions at the Bar, he was made a Senior Advocate of Nigeria (SAN) in 1978.

In recognition of his invaluable service to Nigeria, he was given the highest honour in the land, the Grand Commander of the Order of the Federal Republic (GCFR)in 1982.

He was honoured with many chieftaincy titles, including the following:

Asiwaju of Yoruba
Asiwaju of Remo
Losi of Ikenne
Lisa of Ijeun
Apesin of Osogbo
Odole of Ife
Ajagunla of Ado-Ekiti
Odofin of Owo and
Obong Ikpan Isong of Ibibio Land.

In recognition of his esteemed contributions, he was awarded the Grand Band of the Order of the Star of Africa by the Republic of Liberia in 1968, and made Grand-Officer de l’Ordre National du Lion, Republique du Senegal, in 1972.

PUBLISHED WORKS:
Republished many books and still had some in the press at the time of his transition. Among his best-known works are: Path to Nigerian Freedom (1947), Awo - an autobiography (1960), Thoughts on the Nigerian Constitution (1966), The People’s Republic (1968), The Strategy and Tactics of the People's Republic (1970), The Problems of Africa: The need for ideological reappraisal (1977), Adventures in Power­Book 1: My March Through Prison (1985). Re had planned to launch Book 2 entitled The Travails of Democracy and the Rule of Lawon 6th June 1987.

The oldest privately owned newspaper in Nigeria, the Nigerian Tribune, and two other newspapers (the weekly Sunday Tribune and Irohin Yoruba) were founded and owned by Chief Obafemi Awolowo.

Wednesday, September 21, 2016

Future of legal education in Nigeria is patterned after the system in England except that whereas lawyers in England are solicitors or barristers, all lawyers in Nigeria qualify and can practice as both barristers and solicitors.Legal education in Nigeria consists of academic study for 4 to 5 years (depending on the mode of entry) in a law faculty and a year in the law school followed by call to the Nigerian Bar and enrollment as a legal practitioner at the Supreme Court.It is the National Universities Commission (NUC) that established minimum academic standards for the conferment of law degrees (LL.B).Likewise, the Council of Legal Education has established requirement which a law degree must satisfy before it can qualify its holder for admission into the Nigerian Law School for a BL. This therefore subjects law faculties to two accreditations: one by the NUC and another by the Council of Legal Education (CLE).In recent times, there has been growing concern about the deterioration of Nigeria’s educational system stemming from the quality of our university graduates, which has become less than satisfactory and the law graduates are no exception. Hence the growing demand for reforms not only in legal education but of the entire educational system in the country.Since lawyers are required to have legal education before they can be called to the Bar, what constitutes the purpose of legal education?According to NUC’s document on Minimum Academic Standards for law in Nigerian universities: “Academic legal education should therefore act, first, as a stimulus to stir the student into the critical analysis and examination of the prevailing social, economic and political systems of his community and, secondly, as an intellectual exercise aimed at studying and assessing the operation, efficacy and relevance of various rules of law in society.”Undoubtedly, all human activities in their social, economic, political and environmental contexts, take place within a legal framework. It is therefore necessary, according to the NUC revised Minimum Academic Standards for Law, “that the student of law should also have a broad general knowledge and exposure to other disciplines in the process of acquiring legal education.”In line with contemporary global practice, the NUC considered the merger of the revised Minimum Academic Standards (MAS) with the Benchmark Style Statements into one new document known as (BMAS), wherein, “the training in law is specifically aimed at producing lawyers whose level of education would equip them properly to serve as advisers, solicitors or advocates to governments and their agencies, companies, business firms, associations, individuals and families, etc.”The above aim underscores the fact that “the role of lawyers is a pervasive one, straddling the political, economic and social life of the society. After all, lawyers are instrumental to whatever situation any country may find itself. Lawyers, as judges, in private or corporate practice, in the academics or in government, shape the society and the lives of their fellow human beings.”However, a lawyer can only be as good as the system of legal education that produced him. Legal education (both academic and vocational) is a vital ingredient that affects the quality of our justice system and the role of lawyers in the political, economic and social development of our country.It has been rightly argued that “the study of law must not end with the imbibing of general principles of law; it must involve law in action; in all its ramifications. The relationship of law to social, economic and political realities of life must be encompassed.”Improving the quality of legal education and of young lawyersA number of legal scholars, jurists, legal practitioners and the Nigerian Bar Association, have, in recent times, repeatedly pointed out the following standards in legal education and in the performance of young lawyers and all have identified various factors responsible for this disturbing phenomenon. These factors include: lack of consistency on the part of both NUC and CLE in ensuring compliance with the Benchmark Minimum Academic Standards (BMAS) for law in Nigerian universities and other stipulated requirements by the Council for Legal Education; grossly dishonest people adopted by some universities/law faculties to secure accreditation (full, provisional and interim) when in reality they are yet to meet the minimum requirements (in terms of staff mix, facilities, student- staff ratio, library holdings etc) stipulated by both NUC and CLE; poor quality and scope of the teaching and learning processes; lack of compulsory pupillage for young lawyers; inadequate mentoring and ridiculously low welfare package for young lawyers and poor funding/financing of education (legal education inclusive) in Nigeria.Hence the need for improving the quality of legal education and of the performance of young lawyers in Nigeria. As of how, several proposals have been offered at several fora ranging from: - making the Nigerian Law School programme a two-year programme, to introducing practical/clinical training into legal education, making law a postgraduate degree programme, scrapping the Nigerian Law School entirely and making the Council of Legal Education an examination board (the USA system) etc.Strategies for improving the quality of legal education and of the young lawyers in NigeriaFrom the above analysis, the outstanding question remains unanswered: what are the effective strategies for improving the quality of legal education and of the young lawyers in Nigeria?; are we to continue with our reactionary and curative approach to the challenges at hand or are we determined to be more proactive in our approach to addressing same and in earnest search for durable solutions to addressing national problems using law.For example, does the answer to the falling standard of legal education or declining quality in the performance of young lawyers lay necessarily in the proposed two-year period at the law school?Respectfully, the answer is no, because for a durable solution to the crisis at hand, we must collectively address the need for more skills-based and practice-oriented syllabus and scope of learning within the existing calendar; promote compulsory pupillage for young lawyers after graduation from the law school before graduates can practice on their own; ensure adequate mentoring and a dignified and sustainable welfare package for young lawyers to motivate them to work harder; advocate for improved financing for qualitative academic legal education and prudent management of resources at the universities/law faculties.Undoubtedly, the introduction of Clinical Legal Education (CLE) in law faculties will lay the foundation for law students to carry with them throughout their professional career a great sense of professional commitment to the ethics and values of public service, subject however, to the availability and management of basic and relevant Information and Communications Technology related infrastructural facilities.This leads to our next discussion on the future of legal education in Nigeria.The future of legal educationUndoubtedly, the future of legal education in Nigeria lies essentially, though not exclusively, in the following:I. Our collective efforts to develop a plan of action and strategic implementation framework to address the identifiable factors responsible for the falling standards of legal education and the quality of performance of young lawyers. This requires us to carefully develop the relevant measurable/verifiable indicators and benchmarks for durable solutions to the problems.II. Our collective resolve to addressing the threats, opportunities and challenges that ICT poses to law, the legislature, the Bar, the Bench and the academia; and to our understanding of the impact of ICT on legal education in the 21st Century.ICT has come to stay and Nigeria is fast becoming a heavy user of the internet for information, communication, research, electronic commerce and banking transactions; it is spending millions of naira on the internet. There are growing indications that along with the expansion of legitimate internet use, Nigeria is acknowledged to be experiencing a rising tide of cybercrimes and cyber-insecurity and this follows a global pattern that has become glaring. Hence the justification for the coming into force of the Cybercrime Act, 2015 and the Cybersecurity Policy and Strategy, 2014.The existence of cybercrime is bound to raise issues of Cyberjurisdiction which can be seen as territorially border less and multi jurisdictional because of the ease with which a user can access information, electronic communications and transact online; as well as commit cybercrimes using the same internet and other ICT tools.Evidently, the use of electronic medium that disregards geographical boundaries throws the law, the Bar, the Bench, the academia and the law enforcement agencies into disarray by creating entirely new phenomena that need to become the subject of clear legal rules that cannot be governed, satisfactorily, by any current territorially-based sovereign law. Any insistence on reducing online transactions to a legal analysis based on geographic terms present, in effect, a new problem on a global scale.Objectives of ICT in legal educationAnother question that readily comes to mind is; what are the main objectives of ICT within the context of legal studies and practice? It is considered that ICT should among other objectives: (i) Facilitate the storage, retrieval and dissemination of vital legal information for the successful pursuit of legal research and study.(ii) Enable large number of students and researchers to have ready access to case law and other legal materials more efficiently than having them queue up for access to a limited number of books in the library.(iii) Facilitate effective communication between teachers and students, particularly in distance learning and continuing education programmes.Some of the ICT platforms include:- E-mail communication; diverse electronic discussion forums - forums such as Facebook, Twitter and various chat rooms enable participants pose questions and articulate views on diverse academic issues; legal data bases and video conferencing.Further, our collective resolve to understanding and addressing the opportunities and challenges that globalization presents to legal education in Nigeria and how to survive in an era of global competitiveness for legal service delivery, e.g., what does it mean to have a legal education in a globalized digital environment of the 21st century? Is there a commonality for all law students as to having basic legal education (with knowledge, skills and values inclusive)? What are the core competencies which every law graduate should have? These are questions which need to be addressed by the Bar and the academia before we set guidelines or standards.Furthermore, the law faculties and the National Association of Law Teachers need to expedite action in establishing the Nigerian Academy of Law, whose critical role among others, is to mobilize, aggressively, technical, human, material and financial resources for the progressive realization of the ultimate goal and objectives of legal education in an era of globalization and ICT.Finally, the future of legal education in the 21st Century digital age requires us to respectfully treat all stakeholders as equal and to live above the on-going BLAME THEORY in order to ensure that critical role of lawyers and legal education in promoting national development is sustainable and the gains should remain irreversible in the best interest of justice, the public and the present and future generations.

Monday, September 19, 2016

I am compelled to write this open letter to you because of the state of affairs of the Yoruba nation. Firstly, I wish to acknowledge that fate has put you in a prime position to determine to a large extent the direction that the Yoruba people will go. The indisputable truth is that one may quarrel with your politics but your sagacity is never in doubt. Even those who don't see eye to eye with you agree that you are imbued with unusual native intelligence, uncommon people skills and unrivaled foresight. You, more than any other person, has been the game changer since the advent of democracy in 1999. It is for these reasons that I have chosen to direct this letter to you.

My singular purpose is to tug at the strings of your heart. I am not writing to appeal to partisan considerations but to see, if per chance, I can pour out my heart to you in a manner of speaking. God has blessed you even beyond your wildest imagination. You have installed Senators and Governors. You have removed Governors and even a President. You have also installed a President. There is nothing you have wished for or desired that you didn't get. Fortune has smiled on you. Goodwill follows you everywhere you go. You have done very well- more than most men ever will. However, there is one area that is begging for your urgent attention. This area may well define you and all you have ever achieved. This matter, in my opinion, is the only difference between you and the late sage, Chief Obafemi Awolowo. Let me restate for the purpose of emphasis that this is the area in which the late sage and Leader of the Yorubas stand head and shoulders above you. It is the reason his name has been a constant denominator in our regional and national politics. It is the reason politicians, friends and foes invoke his name for political advantage and personal glory. It is also the reason why we can't stop talking about him almost thirty years after his death. What will anyone say about you thirty years after you have transited?

Asiwaju Sir, you may be wondering what I'm talking about? It is the issue of legacy. According to Peter Strople, 'Legacy is not leaving something for people, it is leaving something in people'. Legacy is building something that outlives you. Legacy is greater than currency. In the words of Leonard Sweet, ' What you do is your history. What you set in motion is your legacy'. You can't live forever, Sir. No one can. But you can create something that will. Enough of speaking in parables- I shall now speak plainly.

When destiny brought you on the scene, we were enamoured because you championed the case for true federalism. It was your belief then that the Yoruba nation will fare better under a restructured arrangement than under the type of unitary government we run while pretending by calling it a federal government. Everyone knows that there is nothing federal about our government at all. If truth must be told, the Yoruba nation has fared very badly since the advent of our new democracy. And this is not about holding power at the centre.

Let me bring this home: someone passed a comment recently that he would want Biafra to become a reality because he knows the Igbo nation will survive. That comment led me to deeper introspection as I wondered if the Yorubas can truly survive. Let me cite my first example. From Oyo to Osun, Ogun to Ondo, Ekiti to Kwara and Lagos, hardly will one see any serious industry or manufacturing concern owned by a Yoruba person. I am not talking about portfolio businesses or one-man business concerns. Most industries in Oyo State are owned by the Lebanese. The native business and industry gurus who dominated the landscape- Nathaniel Idowu, Amos Adegoke, Lekan Salami, Alao Arisekola, Adeola Odutola, Jimoh Odutola, Chief Theophilus Adediran Oni and others- are all gone with no credible replacements. I'm sure you remember the tyre factory of the Odutolas and how Jimoh Odutola was even asked by the Governments of Kenya and Ghana to set up a similar factory in their countries. Chief Theophilus Adediran Oni, popularly called T.A Oni & Sons started the first indigenous construction company in Nigeria. He willed his residence- Goodwill House, to the Oyo/Western state government, to be used as a Paediatric Hospital, which is now known as T.A Oni Memorial Children Hospital at Ring Road in Ibadan. This sprawling family Estate and residence was cited on a 15acre piece of land, 65 rooms, with modern conveniences, Olympic Swimming Pool and stable for Horses, etc.
People like Chief Bode Akindele started companies like Standard Breweries and Dr Pepper Soft drink factory at Alomaja in Ibadan. Broking House built by the late Femi Johnson, an insurance magnate, still stands glittering in the mid-day sun as an epitome to a rich history that Ibadan has. The most serious and only notable Yoruba entrepreneur we have now is Michael Adenuga. I say this quite consciously because most of the other names are oil and gas barons. Most of what stood as testaments of industry in Oyo State are gone- Exide Batteries, Leyland Autos and many others. In its place are shopping malls and road side markets but no nation develops through buying and selling alone- especially when you're not actually producing what you're selling. Hypermarkets and supermarkets have taken over because of the need to feed our insatiable consumer-appetite and foreign tastes. In one instance, an ancient landmark in the form of a hotel was demolished to pave way for a mall. That is how low we have sunk. If our past is better than our present- if we always look back with nostalgia frequently, then there is a problem.

The case of other states is not different. Osun's case is pathetic. Ditto for Ondo and Ekiti. Ogun State can boast of some factories at Sango-Otta and Agbara axis but most of them are not owned by the Yorubas. There is no significant pharmaceutical company owned by any Yoruba except for Bond Chemicals in Awe, Oyo State- and its wallet share is very insignificant. For Lagos State, more than 70% of the manufacturing concerns and major industries in the State are owned by the Igbos. If the Igbos were to stop paying tax in Lagos State, the IGR of Lagos State will reduce by over 60%. In contrast, Sir, go to the South East and look at the manufacturing concerns in Onitsha, Aba and Nnewi. Please don't forget those were areas ravaged by civil war a mere forty something years ago. The Igbos have certainly made tremendous progress but the Yoruba nation has regressed. I wish to state that this letter is not meant to whip up primordial considerations or ethnic sentiments but just to put things in proper perspective.

Asiwaju, I will like to also talk about the state of education in the Yoruba nation. Our education has gone to the dogs. We have a bunch of mis-educated and ill-educated young men and women roaming the streets. Ibadan, for instance, had the first University in Nigeria and the first set of research centres in Nigeria ( The Forestry Research Institute, the Cocoa Research Institute (CRIN), The Nigerian Cereal Research Institute Moor Plantation (NCRI), the NIHORT (Nigerian Institute of Horticultural Research), the NISER (Nigerian Institute of Social and Economic Research), IAR&T (Institute of Agriculture, Research and Training), amongst several others). Ibadan was the bastion of scholarship with people like Wole Soyinka, JP Clark, D.O Fagunwa and Amos Tutuola as residents. In the May/June 2015 West African Senior Secondary Certificate Examination, Abia came tops. Anambra came 2nd while Edo was 3rd. Lagos placed 6th while Osun and Oyo was 29th and 26th. Ekiti was 11th, Ondo State was 13th and Ogun State was 19th. In 2013 WASSCE, only Lagos and Ogun States were the Yoruba States above the national average. If we do an analysis of how Lagos placed 6th in 2015, you will discover that it was substantially because of other nationalities resident in Lagos. For proof, please look no further than the winners of the Spelling Bee competition which has produced One-Day Governors in Lagos State. Since inception in 2001, other nationalities have won the competition six times (Ebuka Anisiobi in 2001, Ovuwhore Etiti in 2002, Abundance Ikechukwu in 2006, Daniel Osunbor in 2008, Akpakpan Iniodu Jones in 2011 and Lilian Ogbuefi in 2012). Sir, there is something seriously wrong about our state of education. From the vintage times of Obafemi Awolowo who initiated 'free education', we have regressed into a most parlous state.

Let me talk about roads, housing and infrastructure . The first dualized road in Nigeria, the Queen Elizabeth road from Mokola to Agodi in Ibadan was formally commissioned by Queen Elizabeth in 1956. The first Housing Estate in Nigeria is Bodija Housing Estate (also in Ibadan) which was built in 1958. The state of roads in the Yoruba nation has become pathetic. Our hinterland are still largely rural. Even some state capitals like Osogbo and Ado-Ekiti are big villages when you compare them to towns in the South East. How many new estates have been built over the last decade? Even Ajoda New Town lies in ruins.

We have abandoned the farm settlement strategy of the Western Region and only pay lip service to agriculture. Instead of feeding others like we once did, others now feed us. We plant no tomatoes, no pepper and the basic food that we require. The Indians have bought the large expanse of water body that we have in Onigambari village. The water body in Oke Ogun of Oyo State can provide enough fish to feed the whole of the South West. From being a major cocoa exporter many years ago, one can point to just a few vestiges of factories that still deal with Cocoa in the Yoruba nation. 80% of Cocoa processing industries in the South West have been shut down. The Chinese have taken over the cashew belt at Ogbomoso in Oyo State. They have even edged out the indigenes as brokers. They now come to the cashew belt to buy from the local farmers, sell on the spot to other Chinese exporters who now process the cashew nuts and import them back into Nigeria at a premium. Sir, there are only 7 major cashew processing plants in Nigeria and you can check out the ownership. The glory has departed from the Yoruba nation.

Apart from Asejire, Ede, Ikere Gorge and Oyan dams built ages ago, where are the new dams to cater for increased population and water capacity for the Yoruba nation? How have we improved on what our heroes past left us? Maybe apart from certain areas in Lagos State, others can't even supply their citizens with pipe-borne water.

Our youth which we used to take pride in are largely a mass of unemployed and unemployable people. Have you noticed the abundance of street urchins, area boys, touts and 'agberos' that we now have all across the Yoruba nation? Have you noticed the swell in the ranks of NURTW (I mean no disrespect to an otherwise noble union)? Have you noticed the increase in the number of Yoruba beggars? There was a time that it was taboo for a Yoruba man to beg- but no more. The spirit of apprenticeship is dead. There was a time that people who learn vocational skills celebrate what we referred to as 'freedom'. While that is largely moribund now in the Yoruba nation, the Igbos still practice it with great success.

The only thing we can boldly say the Yoruba nation controls is the information machinery- the press. We own largely the newspapers- the Nation, Punch, Nigerian Tribune, TV Continental and a few others. It is because of our control of this information machinery that we have rewritten the narrative in the country with the misguided self-belief that things are normal and we are making progress. A look beyond the surface will prove that this is so untrue.

We are largely divided. For the first time in the history of the Yoruba nation, religion is about to divide us further- and it is starting from Osun State. You are married to a Christian. My own father-in-law is an Alhaji. That is how we have peacefully do-existed but the fabrics are about to be torn to shreds because of poor management of issues. Afenifere has been reduced to a shadow of itself. OPC that once defended Yoruba interests has gone into oblivion. Yoruba elders have been vilified in the name of politics and partisanship. It is no longer news to see teenagers throwing stones at their elders because of their political indoctrination. Even under the late sage, Chief Obafemi Awolowo, the Yorubas never belonged to just a single party- yet our unity was without blemish. Now, our values have gone down the drain.

Asiwaju, I believe I have said enough. The task is Herculean but I believe Providence has brought you here for such a time like this. It is time for the Yoruba nation to clean up its acts. What do we really want? How can we quickly right the wrongs? The Yoruba nation is in a state of arrested development. The Yoruba nation is gasping for breath and crying for help. Will you rise up to the occasion? I am aware you understand that all politics is local and charity begins at home. Our fathers gave us a proverb: 'Bi o'ode o dun, bi igbe ni'gboro ri'. I know there are no quick fixes but I also know that if there is anyone who has the capacity to do something about our current situation, that person is you. This should be the legacy y.
ou should think of. Your legacy is our future.

You will recall that in a statement made by me and published in the SUNDAY TIMES of March 30, 1969, I declared, among other things, as follows:

“Even at the federal level, I have no desire whatsoever, and I certainly cannot be tempted or induced to develop one, to head, or participate in an unelected or even an electoral-college elected civil administration in a military or any setting. At the moment, I am participating in the activities of the military government because I have been invited, and I also think it is right, so to do. I am, therefore, obliged, morally and for the purpose of keeping Nigeria united, to take part, as fully as I can, in any measure designed, in particular, to keep the Ibos as a constituent ethnic unit in the federation of Nigeria, enjoying equal and identical status and benefits with other ethnic units, and in general, to preserve Nigeria as an economic and political entity.”

I should have, in accordance with this declaration, relinquished my present offices soon after the end of the civil war in January last year. But one main matter decided me against such an immediate course of action. As you know, before January 1970, the four-year development and reconstruction plan had been under active preparation, and it had been hoped that it would be launched early in the 1970/71 fiscal year. It was my strong desire to participate in the consideration of this plan. As it turned out, however, the plan was not actually considered until August 1970.

By that time, three other factors had supervened.

First, the capital estimates for 1970/71 had been delayed until the launching of the four-year development plan, which did not take place until November last year. At this late stage, I decided that the capital estimates of 1970/71 should be incorporated into those of 1971/72.

Second, by November 1970, the time for the introduction of the 1971/72 budget was only some four months away.

Third, as from September 1970, our foreign exchange position had started to undergo an unusual rapid deterioration. It occurred to me, in all these circumstances:

-that it would be untidy for me to leave without completing the budget for 1970/71;

-that it would be hardly fair to my successor for me to leave at a time when preparations for the 1970/71 budget had actively begun under my direction, and;

-that it might be interpreted in some circles as an act of bad faith for me to leave at a time when our foreign exchange was in such a bad state, and no sensible formula had been found for arresting its deterioration.

Now with the peace and unity of our great country fully restored and firmly re-established; with the four-year development plan already considered and launched and the capital estimates for 1970/71 completed; with the 1971/72 budget done and a reasonable solution devised for our acute foreign exchange, I feel free to act in accordance with one of my fundamental beliefs, referred to in paragraph 1 above, and publicly declared on March 10, 1969-EIGHTEEN CLEAR MONTHS before the military government’s political programme was announced by you on October 1, 1970.

I would, therefore, like to notify you that, with effect from July 1, 1971, I am no longer willing to continue in the offices of federal commissioner for Finance and vice-president of the Federal Executive Council.

Supplementary to the forgoing, there is another important reason for my present action. After four truly (I hesitate to say exceedingly) exacting (though thoroughly stimulating and educative) years in the Federal Ministry of Finance which, throughout the period, was incessantly beset with fiscal and monetary problems of unprecedented dimensions, and of peculiarly complex and tantalizing nature, I deem it to be in the interest of my continued good health to have a complete change of full-time occupation.

As to my future plan, I have decided to go back to legal practice. I also want to seize the opportunity, which the military government’s six-year political programme provides, to write, if my professional engagement permit, three books which have always been very much on my mind.

The research connected with two of these books will take me to selected developing countries in Asia, Africa, and Latin America, as well to ECA and OAU secretariats in Addis Ababa, the offices of some United Nations agencies in New York, and London University.
I would like to state that though, by this resignation, I am leaving your government and literary activities as mentioned above, it does not mean that I am completely relinquishing all public services to our country and people.

On the contrary, it is my resolve to continue, in all circumstances and until my life’s end, to see the best interests of our fatherland, and promote the welfare and happiness of our people, in every way possible.

In this connection, I would like to assure you that I shall always be willing, on a purely AD HOC basis and providing my professional commitments permit, to render, at your request and without any remuneration whatsoever, any particular service which is within my competence to give.

After my appointment in 1967, I submitted to you a STATEMENT OF AFFAIRS (i.e. OF MY ASSETS AND LIABILITIES) as at June30, 1967. In keeping with the code of conduct to which I subscribed, I am obliged to send you my statement of affairs as at June 30, 1971. It is, however, not possible to send the statement along with this letter. But my accountants are already working on it and as soon as it is finalized up to June 30, 1971, I shall forward it to you.

In closing, I would like, in all sincerity, to say two things:

Firstly, I have tremendously enjoyed working with you; and it is not without considerable reluctance, therefore, that I have to take this step.

Secondly, I will always remember with deep gratitude, your kindness to me in releasing me from prison, and in giving me, within a year of my release, an opportunity to serve our people of Nigeria once again in a ministerial capacity, and at a time when the very existence of our fatherland was in grave peril.

With best wishes to Victoria and your good self, and love to Ibrahim.

Yours very sincerely,

OBAFEMI AWOLOWO.

GENERAL YAKUBU GOWON'S REPLY:

My dear Chief,

I wish to acknowledge the receipt of your letter dated June 3, 1971, intimating me of your decision to relinquish your appointments as the vice-president of the Federal Executive Council and Federal Commissioner for Finance with effect from July 1, 1971.

For some time, there have been rumours about your leaving the government, but I was sure, however, that if there was such an intention you would have not hesitated to notify me.

Since I know that you must have taken your decision after the most careful consideration, no useful purpose would be served by any attempt to make you change your mind.

It is, therefore, with the greatest regret and reluctance that I have to concede to your request. In accepting your decision, I would like to place on record my personal appreciation of your most valuable contribution to our achievements during the last four years. You have earned for yourself respect from all of us who have seen you at close quarters, for your patriotism, coupled with a strong well-meaning conviction on issues of national importance. I respect your maturity, objectivity, and sagacity, all of which you placed at my disposal; above all, for your advice and co-operation at all times.

Your outstanding performance as this government’s Commissioner for Finance during one of the most critical and turbulent periods of our history will always be remembered. You demonstrated, consistently, great courage, forthrightness, leadership, and a spirit of understanding, which helped us to get out of our financial disaster. That we did not succumb to the temptation to devalue our currency during the crisis and were able to win the war entirely out of our own resources and face resolutely the immediate post-war problems of rehabilitation, reconstruction and reconciliation was due, in no small measures, to your skill in the management of our finances.

I am aware that your position in this government, particularly as Commissioner for Finance, will be difficult to fill. However, I have a consolation in the fact that during your tenure of office, you laid a sound foundation on which your successors could build and carry on the good work.

I have no doubt that, at this moment, you will have the feeling that you have done your best. I share your feelings, too; and wish to extend my appreciation of the contribution of your dear wife who had had to bear more than her share of domestic burdens as a result of your public assignment.

I am glad to note and to accept your offer to hold yourself in readiness for assignment which the Federal Government may consider necessary to give you even when you will no longer be directly associated with public life.

Since there will be occasions soon for me and your colleagues in government to state our assessment of your contribution to the service of this nation in the last four years, I now merely wish to say how sorry I am to lose your services. We will miss your great sense of humour, your debating ability and useful suggestions at all times.

On behalf of myself, your colleagues on the Federal Executive Council, and the people of our great country, I wish you many more years of useful life.

My wife and Ibrahim join me in wishing you every success in your next sphere of life.

Bothered by the biting economic recession cycle in the
country, former President, Nigerian Bar Association, NBA, Dr.
Olisa Agbakoba, has advised President Muhammadu Buhari to
stop lamenting but to chart a clear economic policy direction
that will give value to the economy.
Agbakoba, who has since the emergence of President
Muhammadu Buhari, in the March 28, 2015 Presidential
election, been making his voice known on how the President
can save Nigeria, Thursday, penned an Open Letter to the
President. The letter was also copied to the Senate President,
Dr. Bukola Saraki and Speaker of the House of Representatives
, Rt. Hon. Yakubu Dogara. The letter read:
September 15, 2016
President MuhammaduBuhari GCFR
Aso Villa Abuja
Dear Mr. President,
RE: PRACTICAL SOLUTIONS TO SCALE NIGERIA’S RECESSION
I feel called upon to make my own contribution to the dialogue
on a solution to the economic recession that Nigeria is
undergoing. It is evident now that the oil price shock was the
main contributing factor causing the downward spiral in the
economy resulting in the present recession. In any ailing
economy the first step that must be taken is a diagnosis of
the problem and in Nigeria’s case I would diagnose that it is
suffering from malignant metabolic economic syndrome,
complicated by inflation, high interest rates, unemployment,
weak infrastructure and the results of the global fall in the
price of oil. It is indeed a gloomy state of affairs which if not
treated with urgency by introducing strong fiscal, trade and
monetary policy could well lead to depression. We know that
Nigeria has experienced mismanagement for several decades
but now is not the time to lament but to chart a clear
economic policy direction that will give value to the economy.
This will entail developing macroeconomic models tailored to
stimulate all sectors of the economy and catapulting us out of
recession. On the issue of monetary policy there is a lot of
confusion. There is the need for harmonization between CBN
policy which is leaning towards tight liquidity in a bid to
harness inflation and the Minister of Finance’s call for
increased public spending on capital projects. Note that CBN
increased the MPR by 200 basis points from 12% to 14% to
combat inflation and stimulate growth. The MPR is the anchor
rate at which the CBN, in performing its role as lender of last
resort, lends to Deposit Money Banks to boost the level of
liquidity in the banking system. If the apex bank intends to
increase the level of liquidity in the economy, it reduces the
MPR but increases it when it intends to tighten money supply.
By increasing MPR, CBN has unfortunately tightened lending.
The banking sector requires strengthening and must be
empowered to lend. I recommend that money from the
Treasury Single Account, TSA should go back to the banks at
single digit rates and that banks’ recommended lending rate
should not exceed 5%. I feel that the CBN should focus on
productive value of the economy and not the numerical value
of the naira. The recent devaluation of the naira by the
introduction of a floating naira exchange rate has not yielded
positive results as we see the naira spiraling downwards. In
fact the new forex regime caused a drop in the GDP from $
500billion to some $350billion by reducing per capita income
to below $600. In proffering a solution to this, I feel that
Government’s monetary policy will be required to move from
strict monetarism of the Milton Friedman School of thought to
the Keynesian Model. Milton Friedman promoted an alternative
macroeconomic viewpoint known as “monetarism”, and
argued that a steady, small expansion of the money supply
was the preferred policy. His ideas concerning monetary
policy, taxation, privatization and deregulation influenced
government policies, especially during the 1980s. His
monetary theory influenced the Federal Reserve’s response to
the global financial crisis of 2007–08. On the other hand
Keynesian economics advocates a mixed economy –
predominantly private sector, but with a role for government
intervention during recessions. Keynesian economics served as
the standard economic model in the developed nations during
the latter part of the Great Depression, World War II, and the
post-war economic expansion (1945–1973). I believe strongly
that Nigeria can recover from recession and I recommend as a
start the need for a Presidential Proclamation at the National
Assembly, switching from Austerity Policy to Growth Policy,
this will instill hope and form the basis for the way forward. I
am not sure if the Economic Emergency Powers requested by
Mr. President would work. I recall that President Shagari had
them and failed; the Venezuelan model has also not worked.
To boost the economy will require massive spending on
infrastructure and public works which will also require
manpower resources. This is the Keynesian economic model.
This way we will spend our way out of recession with the
objective of reducing inflation. The CBN should reduce the
MPR to single digit of say 5% and create a framework for
quantitative easing. Further, we need to consider a National
Treatment Policy that will create the environment for real
sector growth. We would need to establish a Development and
Guarantee Bank to provide financing for national development
which can be supported by asset securitization. Considering
all solutions, I will add the need for the government to prepare
a Public Sector Borrowing Requirement (PSBR) and borrow
according to needs. It may be possible to borrow against
future oil receivables as was proposed with China by the last
administration. It would also be necessary for the federal and
state governments to pay off domestic debts to inject liquidity
into the system, whilst retaining a clear debt ratio policy. I
have always advocated the need for massive legal and
institutional reform in the financial services sector which will
allow money to flow through the veins of the economy. For
banking regulations, I suggest we can adopt the UK model by
creating a Financial Conduct Authority (FCA) and a Prudential
Regulatory Authority (PRA). The Financial Conduct Authority
(FCA) is a financial regulatory body in the United Kingdom, but
operates independently of the UK government, and is financed
by charging fees to members of the financial services industry.
The FCA regulates financial firms providing services to
consumers and maintains the integrity of UK’s financial
markets. It focuses on the regulation of conduct by both retail
and wholesale financial services firms whereas the Prudential
Regulation Authority was created as a part of the Bank of
England by the Financial Services Act (2012) and is
responsible for the prudential regulation and supervision of
around 1,700 banks, building societies, credit unions, insurers
and major investment firms. This model would limit CBN like
the Bank of England to monetary policy and domicile
supervisory functions in the PRA. The proposed new
regulatory agencies will provide more effective supervision of
the banks than is the case. On the need for huge stimuli for
business growth there will be the need to create a debt factor
market to soak up non-performing loans presently on the
banks’ balance sheets now standing at about 20trillion naira.
Also medium and small businesses must be encouraged and
enabled to access funds to grow their businesses as these
businesses represent the engine of economic growth. Access
to funds should be supported by a robust private sector led
mortgage market by waking up dead capital trapped in the
nation’s housing stock valued at over 7 trillion naira. We will
also need to urgently explore alternative income sources from
Agriculture, Maritime, Aviation, Infrastructure, Mining etc. If
Government’s efficiency is enhanced and the States are
required to contribute as economic enablers, then there will be
less strain on the national purse and States will be forced to
generate income. It will be encouraging for the government to
give hope with a clear vision of how to tackle recession. For
example Franklin D. Roosevelt’s ‘New Deal’ got the United
States out of the Great Depression in the 1930’s. In the case
of FDR’s New deal, massive public works programmes like the
momentous Tennessee Valley construction were undertaken to
generate employment and hope for the American people.
Several important laws were enacted to support the New deal
among which two in particular impacted on the economy. The
Glass-Steagall Banking Act was enacted to restore confidence
in the banking system after thousands of bank failures in the
first years of the Depression in the U.S. This Act prohibited
banks that held government deposits from speculation and
trading but compelled lending to the real sector. Also the
National Industrial Recovery Act (NIRA) was a law passed by
the United States Congress in 1933 to authorize the President
to regulate industry to stimulate economic recovery. It also
established a Public Works Administration to put millions back
in employment by massive public infrastructure development.
A more recent example in the U.S was the introduction of the
Emergency Economic Stabilization Act, 2008 commonly
referred to as an Act to bailout the U.S financial system. This
law was enacted in response to the subprime mortgage crisis.
The United States Secretary of the Treasury was thereby
authorized to spend $700 billion to purchase failing bank
assets under the Troubled Asset Relief Program (TARP). Under
TARP, funds for the purchase of distressed assets were mostly
re-directed to inject capital into banks and other financial
institutions while the Treasury continued to examine the
usefulness of targeted asset purchases. Another innovative
piece of legislation was the American Recovery and
reinvestment Act signed into law by President Obama in 2009.
This historic legislation stimulated massive job creation during
challenging economic times by cutting taxes and investing
billions of dollars in critical sectors such as energy, health
care, infrastructure and education. I have highlighted all of
these illustrations to project how other jurisdictions have dealt
with economic crises. I emphasize the need for immediate
economic and macroeconomic policy measures to be put in
place. This will require setting up a council of economic
advisers to advise Mr. President on economic policy by
providing objective economic analysis and advice on the
development and implementation of a wide range of domestic
and international economic policy issues. This will provide a
New Economic Model that when implemented and pursued
vigorously can pull us from this recession by second quarter of
2017. However, if nothing is done the recession cycle may well
extend up to Q4 2020. Thank you for this opportunity to
address you directly on this very crucial topic.
Yours sincerely,
Olisa Agbakoba SAN, OON
Cc: Dr. Abubakar Bukola Saraki Senate President
Cc: Hon. Yakubu Dogara Speaker of the House of
Representatives

Friday, September 2, 2016

Perhaps the most powerful single factor in your financial success is your beliefs about yourself and money. Think about it. Don’t you agree?

We call this the Law of Belief. It says simply this: Whatever you believe, with feeling, becomes your reality.

What Successful People Believe

Whatever you intensely believe becomes your reality. That we have a tendency to block out any information coming in to us that is inconsistent with our reality. What we've discovered is that successful people absolutely believe that they have the ability to succeed. And they will not entertain, think about, or talk about the possibilities that they'll fail. They do not even consider the possibility of failure.

Positive Thinking Versus Positive Knowing

You always act in a matter consistent with your beliefs. The most important belief system you can build is a prosperity consciousness where you absolutely believe that you are going achieve your financial goals. We call this positive knowing versus positive thinking. Positive thinking can sometimes be wishing or hoping. But positive knowing is when you absolutely know that no matter what, you will be successful.

The Foundation of Willpower

Another principle related to your beliefs is willpower. We know that willpower is essential to any success. Willpower is based on confidence. It's based on conviction. It's based on faith. It's based on your belief in your ability to triumph over all obstacles. And you can develop willpower by persistence, by working on your goals, by reading the biographies of successful people, by listening to audio programs, by reading books about people who've achieved success. The more information you take into your mind consistent with success, the more likely it is that you will develop the willpower to push you through the obstacles and difficulties you will experience.

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Beat the Odds on Success

Remember that success is rare. Only one person in one hundred becomes wealthy in the course of a lifetime. Only five percent achieve financial independence.

That means that the odds against you are 19-to-1. The only way that you're going to achieve your financial goals is if you get really serious. To succeed, you must get serious. You must get busy. You must get active. You must get going. Remember, everything counts.

Resolve to Achieve Greatly

Self-mastery, self-control, self-discipline are essential for anyone who wants to achieve greatly. And control over your thoughts is the hardest exercise in self-mastery that you will ever engage in. See if you can talk and think about only what you desire and not talk or think about anything that you don't want for 24 hours. Then you'll see what you're really made of. It's a hard thing to do but with practice, you can reach the point where you are thinking about your goals and desires most of the time. Then, your whole life will change for the better.

Action Exercises

Here are two things you can do to build a belief system consistent with the financial success you desire:

First, continually repeat to yourself the words, pictures and thoughts consistent with your dreams and goals. Whatever you repeat often enough, over and over, becomes a new belief.

Second, set a goal for yourself to think and talk only about the things that you want for the next 24 hours. This will be one of the hardest things you ever do. But if you can keep your mind on what you want and off of what you don't want for 24 hours, you can begin to change your entire future. Get more insights here Self-Help – OOCORP Ads

Tuesday, May 24, 2016

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Tuesday, April 12, 2016

An anonymous source using the pseudonym “John Doe” made the documents available in batches to German newspaperSüddeutsche Zeitung beginning in early 2015. The information from this unremunerated whistleblower[3] documents transactions as far back as the 1970s and eventually totaled 2.6 terabytes of data. Given the scale of the leak, the newspaper enlisted the help of the International Consortium of Investigative Journalists, which distributed the documents for investigation and analysis to some 400 journalists at 107 media organizations in 76 countries.[4] The first news reports based on the papers, and 149 of the documents themselves, were published on April 3, 2016. The ICIJ plans to publish a full list of companies involved in early May 2016 Read More

Countries with politicians, public officials or close associates implicated in the leak on April 3, 2016
The Panama Papers are a leaked set of 11.5 million confidential documents that provide detailed information about more than 214,000 offshore companies listed by the Panamanian corporate service provider Mossack Fonseca, including the identities of shareholders and directors of the companies. The documents show how wealthy individuals, including public officials, hid their assets from public scrutiny. At the time of publication, the papers identified five then-heads of state or government leaders from Argentina, Iceland, Saudi Arabia, Ukraine, and the United Arab Emirates; as well as government officials, close relatives, and close associates of various heads of government of more than forty other countries. The British Virgin Islands was home to half of the companies exposed and Hong Kong contained the most affiliated banks, law firms and middlemen.[1]

While the use of offshore business entities is not illegal in the jurisdictions in which they are registered, during their investigation reporters found that some of the shell companies may have been used for illegal purposes, including fraud, drug trafficking, and tax evasion.[2]

An anonymous source using the pseudonym "John Doe" made the documents available in batches to German newspaper Süddeutsche Zeitung beginning in early 2015. The information from this unremunerated whistleblower[3] documents transactions as far back as the 1970s and eventually totaled 2.6 terabytes of data. Given the scale of the leak, the newspaper enlisted the help of the International Consortium of Investigative Journalists, which distributed the documents for investigation and analysis to some 400 journalists at 107 media organizations in 76 countries.[4] The first news reports based on the papers, and 149 of the documents themselves, were published on April 3, 2016. The ICIJ plans to publish a full list of companies involved in early May 2016.[5]

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About Me

Olayinka Oyelami is a Business Practitioner and Digital Media Networking Strategist. Business Management,, Marketing and legal Consultants with many years of professional practice and experience.
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